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Dhanuka Agritech Ltd. — Earnings Release 2024
Feb 2, 2024
61335_rns_2024-02-02_b48a8e04-0ec8-4049-b8c8-0c108eb2fab5.pdf
Earnings Release
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Date: 2[nd] February, 2024
Listing Department The Department of Corporate ServicesNational Stock Exchange of India Listing Limited The BSE Ltd. Exchange Plaza, Phiroze Jeejeebhoy Towers, Plot No. C/1, G. Block, Dalal Street, Bandra- Kurla Complex, Mumbai- 400 001 Bandra East, Mumbai-400 051 Scrip Code : 507717 Symbol- DHANUKA
Sub: Press Release- Un-Audited Financial Results of the Company for the Quarter and Nine-Months ended December 31, 2023
Dear Sir/Madam,
Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, enclosed herewith is a copy of the Press Release with regard to the Un-Audited Financial Results of the Company for the Quarter and Nine-Month ended December 31, 2023
A copy of the Press Release is also uploaded on the website of the Company at www.dhanuka.com
Please take the above information in your record.
Thanking you,
For Dhanuka Agritech Limited
jitin Digitally signed by jitin sadana sadana Date: 2024.02.02 20:05:35 +05'30' Jitin Sadana Company Secretary and Compliance Officer FCS-7612
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Dhanuka Agritech reports Q3FY24 net profit at Rs. 45.37 Cr
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Total revenue stands at Rs. 403.24 crore
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Company declares an interim dividend of 400%
New Delhi, February 2, 2024 –
Dhanuka Agritech -- one of the leading agri input companies in India – today announced financial results for the third quarter of FY 2023-24 ended December 31, 2023.
Gurugram-headquartered company clocked a net profit of Rs. 45.37 crore during the October- December quarter. The total income of the company stood at Rs. 410.5 crore during Q3FY24.
Financial Performance (In Rs crore)
| Q3FY24 (in Cr) | Q3FY23 (in Cr) | YoY% | |
|---|---|---|---|
| TotalRevenue | 403.24 | 393.37 | 2.5% |
| Profit AfterTax(PAT) | 45.37 | 46.07 | (1.5%) |
| EBITDA | 62.16 | 51.83 | 19.9% |
Management’s take on Q3FY23 Performance
Commenting on the Q3 performance, Mr. M. K. Dhanuka, Managing Director, Dhanuka Agritech said: Dhanuka has been able to show significant resilience, in this challenging year, where the industry is facing significant headwinds and pressure on both topline and bottomline,
"This year due to continuous decline in prices of generic products ranging from 5% to 40% globally, there is a significant gap in volume growth and value growth. While, the Volume has grown by 8.55%, while the Value has grown by only 2.51% in Quarter 3, representing an overall value reduction of 6% on the entire portfolio," he said.
The company, Dhanuka said, has declared an interim dividend of 400% i.e. Rs. 8/- per equity share having face value of Rs. 2/- per share.
"This will result in total outgo of Rs. 36.47 crores," he said.
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Regarding the full year guidance, he said the company is expecting double digit growth in revenue from Operations.
"Out EBITDA is also likely to grow by 50-100 BPS in the current fiscal compared to the previous year," Dhauka said.
"We have also invested Rs 10 crores in a agritech startup Kisankonnect Safe Food Private Limited," he said.
The startup delivers farm produce directly to customers through its application and farm stores. It works with farmers to grow food sustainably while using its in house technology to deliver customers fresh vegetables and fruits through its delivery channel.
About Dhanuka Group
Dhanuka Group is one of India’s leading plant protection companies and is listed on BSE and NSE. The company has 4 manufacturing units located in Gujarat, Rajasthan, and J&K. The company is present across the country via 40 warehouses and a network of 7,000 distributors and around 80,000 retailers. It has international collaboration with the world’s leading agrochemical companies from the US, Japan, and Europe, which helps them to introduce the latest technology in Indian farmlands. Dhanuka’s workforce with more than 1,000 techno–commercial staff, supported by a strong R&D division and a robust distribution network helps it to reach out to approximately 10 million Indian farmers with its products and services.
Dhanuka Agritech: Nishtha Saxena/ 9911236995/ [email protected]
PR Partner: Slough PR
Abhishek Anand / 9711061540 / [email protected]
Archana Dwivedi / 9958989404 / [email protected]